The richest of all the 195 newly minted billionaires is 39-year-old Colin Huang, or Huang Zheng, who has a personal net worth of US$13.5 billion. In September 2015, he set up Pinduoduo, which runs a social commerce site with the same name that features a group-buying function and low prices. The company went public in New York in July 2018, and now has a market capitalization of about US$36 billion.

Tencent founder Pony Ma, or Ma Huateng, remains the richest individual in China and the 20th globally, with a fortune of US$38.8 billion. He is followed by Alibaba co-founder Jack Ma, who is worth US$37.3 billion.